Vanderbilt University Buys Shares of 15,791 CubeSmart (NYSE:CUBE)

Vanderbilt University bought a new stake in shares of CubeSmart (NYSE:CUBE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,791 shares of the real estate investment trust's stock, valued at approximately $674,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in CubeSmart by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 31,507,111 shares of the real estate investment trust's stock valued at $1,350,080,000 after purchasing an additional 85,609 shares during the last quarter. Norges Bank bought a new stake in shares of CubeSmart in the 4th quarter worth approximately $408,064,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of CubeSmart by 27.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,727,155 shares of the real estate investment trust's stock worth $288,259,000 after acquiring an additional 1,464,331 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of CubeSmart by 8.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,299,460 shares of the real estate investment trust's stock worth $184,232,000 after acquiring an additional 352,754 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of CubeSmart by 46.6% in the 4th quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock worth $161,067,000 after acquiring an additional 1,195,246 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Barclays lowered their price objective on shares of CubeSmart from $49.00 to $48.00 and set an "equal weight" rating for the company in a report on Friday, May 16th. Scotiabank boosted their price objective on shares of CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Finally, Evercore ISI lifted their target price on shares of CubeSmart from $44.00 to $47.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, CubeSmart currently has an average rating of "Hold" and a consensus price target of $47.36.

CubeSmart Stock Down 0.7%

Shares of CubeSmart stock opened at $42.69 on Friday. The company's fifty day simple moving average is $41.66 and its two-hundred day simple moving average is $41.99. The company has a market cap of $9.73 billion, a P/E ratio of 25.26, a PEG ratio of 7.85 and a beta of 0.98. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.17. CubeSmart has a 12-month low of $34.24 and a 12-month high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The firm had revenue of $273.04 million for the quarter, compared to the consensus estimate of $268.16 million. CubeSmart had a net margin of 37.05% and a return on equity of 13.57%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Research analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date is Tuesday, July 1st. CubeSmart's dividend payout ratio is presently 123.08%.

CubeSmart Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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